Semtech Corp. (SMTC) Sees Large Volume Increase
Semtech Corp. (NASDAQ:SMTC) shares saw unusually-high trading volume on Tuesday . Approximately 344,194 shares traded hands during trading, an increase of 6% from the previous session’s volume of 323,825 shares.The stock last traded at $26.28 and had previously closed at $26.16.
SMTC has been the topic of several analyst reports. Drexel Hamilton restated a “buy” rating and set a $29.00 price target on shares of Semtech Corp. in a research report on Thursday, June 23rd. B. Riley restated a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research report on Monday, June 20th. Finally, Zacks Investment Research upgraded shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, June 8th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.42.
The firm has a market cap of $1.80 billion and a PE ratio of 97.580. The firm has a 50-day moving average of $25.27 and a 200-day moving average of $22.83.
Semtech Corp. (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The business earned $135.90 million during the quarter. During the same period last year, the business posted $0.24 EPS. Semtech Corp.’s revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Semtech Corp. will post $1.32 EPS for the current year.
In other Semtech Corp. news, Director Rockell N. Hankin sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $24.04, for a total value of $60,100.00. Following the transaction, the director now directly owns 162,440 shares of the company’s stock, valued at approximately $3,905,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce C. Edwards sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $21.97, for a total transaction of $109,850.00. Following the completion of the transaction, the director now directly owns 15,045 shares in the company, valued at $330,538.65. The disclosure for this sale can be found here.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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